Week 2
1. Managerial Overconfidence and the Use of Level 3 Estimates Evidence from the
banking industry (Riepe)
- Research question:
n LEVEL 3 - There are no orderly transactions in active markets, banks are
allowed to rely on internal models with firm-ge

Week 2
1. Managerial Overconfidence and the Use of Level 3 Estimates Evidence from the
banking industry (Riepe)
- Research question:
LEVEL 3 - There are no orderly transactions in active markets, banks are
allowed to rely on internal models with firm-gen